Canadian Legal Cannabis Industry Contributes $16 Billion to GDP in 2024, Report Reveals

TORONTO – A new report from Organigram Global Inc., in collaboration with the Canadian Chamber of Commerce, details the substantial economic role of Canada’s legal Cannabis industry last year. The sector added more than $16 billion to the national gross domestic product (GDP) and produced close to $29 billion in overall economic activity.

The document, titled “High Impact, Green Growth: The Economic Footprint of Canada’s Cannabis Industry,” points to the industry’s support for over 227,000 jobs nationwide. Of these, 168,000 positions stem directly from cultivation, processing, and retail operations, while another 59,000 arise in related areas like supply chains, logistics, and professional services.

In terms of direct GDP input, the Cannabis field delivered $8.4 billion in 2024, exceeding contributions from forestry and logging at $3.4 billion, breweries at $2.6 billion, and wineries and distilleries at $975 million. On the agricultural side, Cannabis brought in $2.7 billion in farm cash receipts nationally, topping greenhouse vegetables at $2.63 billion and field vegetables at $2.44 billion.

Regionally, the report highlights New Brunswick, where legal Cannabis ranked as the leading crop by value in 2022 with $269.4 million in farm cash receipts, ahead of potatoes and dairy. Over the 2020-2024 period, it averaged $232 million annually in the province.

Beena Goldenberg, CEO of Organigram Global, described the sector as a high-value operation that aligns with the federal government’s push for a unified national economy.

“The legal cannabis sector is a high-value industry that is already delivering what the Prime Minister’s One Canadian Economy vision calls for: a nationally integrated, high-value industry that’s built in Canada, employing Canadians, and competing globally,” she said in the report.

Goldenberg urged updates to regulations, removal of obstacles, and tax adjustments to foster further expansion.

Andrew DiCapua, principal economist at the Canadian Chamber of Commerce’s Business Data Lab and the report’s author, echoed that view. He called the industry a significant force in the economy, one that has built and maintained hundreds of thousands of jobs through its extensive supply network.

“This is precisely the type of industry that fits within the One Canadian Economy vision,” DiCapua noted.

The findings also address hurdles, such as dated policies and excise taxes that restrict innovation and limit access to global markets. Without a focused export plan, Canada risks missing out on an international Cannabis market expected to exceed $140 billion by 2026.

The report underscores Canada’s Cannabis market shift from a nascent venture to a core economic contributor. Yet, realizing its full potential will depend on policy reforms that address current constraints and position the country as a leader in global trade. For the industry, these numbers signal a foundation for sustained growth, provided stakeholders adapt to emerging opportunities.